From Investor’s Business Daily: 2024-08-07 09:56:03

Novo Nordisk stock fell after reporting lower-than-expected sales for their popular drugs Ozempic and Wegovy. Ozempic sales increased by 30% to $4.26 billion, while Wegovy sales rose by 69% to $1.88 billion. Novo Nordisk expects supply constraints for the two drugs due to FDA-listed shortages. The company’s overall sales surged by 24% to nearly $10 billion, missing forecasts by a narrow margin. Despite this, Novo Nordisk raised its 2024 sales outlook, expecting continued growth in sales from diabetes and weight-loss drugs despite pricing pressures. Novo Nordisk stock fell to its 200-day line following the earnings announcement.



Read more at Investor’s Business Daily: Novo Nordisk Stock Dives On Rare Miss As Pricing Pressure Weighs On Ozempic, Wegovy